What threatens the global economy right now – expert opinions

Experts told what, in their opinion, is the greatest threat to the economy in the near future: inflation, recession, stagflation and other risks


Lawrence Boon, Secretary of State for European Affairs attached to the French Foreign Minister

The biggest economic risk facing the world today, and Europe in particular, is the energy and food crisis. First, the huge rise in prices makes these goods out of reach for many people, not only the poor, but also the lower middle class. Secondly, it increases the risk of famine in the Middle East and Africa, as well as the risk of energy shortages, not only this winter, but also next. It also increases the risk of civil unrest in Europe. About 10 years ago, the Arab Spring swept through the countries of the Middle East and Africa, which increased socio-political instability.

Raphael Bostic, President of the Federal Reserve Bank of Atlanta

The biggest economic risk is that US consumers begin to expect further price increases, and they start making spending decisions based on that assumption. While these expectations are not seen to have become unfixed, this risk is exacerbated by rising inflation. The Fed is doing everything possible to prevent a sustained rise in prices.

Maurice Obstfeld, professor of economics at the University of California at Berkeley and former chief economist at the International Monetary Fund

The global community is facing massive and accelerating environmental degradation, including interrelated threats ranging from climate change to biodiversity loss, deforestation and the spread of microplastics in oceans and drinking water. The growing threat of the spread of pathogens is just one of the signs that humanity is colliding with planetary boundaries. At the same time, domestic political systems and mechanisms of global governance seem to be losing their ability to withstand existential risks. Nothing illustrates the obstacles to action more vividly than the United States, where the tightening of government control by a backward, self-interested political minority shatters any hope that

Ethan Andrews

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